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428
6. Formerly the limit was $200,000 exclusive of the Praya Fund, and even that sum was found to be too small for increasing local requirements.
7. Now the total balance allowed is $350,000, while the total balance permitted for the Praya Fund is as follows:- Current account in Bank other than Hongkong and Shanghai appears at limit of $75,000; Deposits in other two Banks $75,000 each $150,000. $225,000 leaving $125,000.
I have further to point out that whereas under the terms of paragraph 3 of Your Lordship's despatch the limit of the balance in the Hongkong Bank is placed at $125,000, each of the other Banks are allowed to have custody of $75,000 in ordinary Government deposits and $75,000 of the Praya Reclamation, or $150,000 in all.
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8
428
6.
Formerly the limit
was $200,000 exclusive
leaving a balance exclusive of the Praya of only
ve of
7.
the Praya Fund, and even
; that sum was
found to
be too small for increasing local requirements.
Now the total balance
allowed is $350,000, while
the total balance permitted for the Praya Fund
to be as
follows:-
Current account in
Bank other than
appears
Hongkong and Shanghai #75,000 Deposits in other two Banks.
at limit of $75,000 each $150,000.
$225,000 leaving
$125,000.
I have further to
point out that whereas - under the terms of paragraph 3 of Your Lordship's despatch the limit of the balance in the Hongkong Bank is placed at $125,000, each of the other Banks are allowed to have custody of $75,000 in ordinary Government deposits and #75,000 of the Praya
Reclamation,
or $150,000 in
all
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